Lloyds TSB complaint upheld!!

moosetastic

Hi everyone, I am very chuffed to say that 15 weeks after submitting my PPI claim to Lloyds TSB for my credit card and loan, I have had 2 upheld letters today -

The CC for £774.67 and the loan for £2898.36!!! The CC one has credited interest until 13/12/2011 and the loan has credited interest until 06/12/2011.

Just have to wait for the money now, which I have been following the ongoing debacle on here, and not holding my breath about getting it before xmas!

I have a couple of questions about it though -

1) - the CC is ongoing and I have an active balance on it. The letter says "difference between the actual and revised balance"? Does this mean that my balance on my CC is to be paid off and this is what is spare on top? Or is that just wishful thinking?? LOL

2) - the CC one quotes my current account number as where the payment will be made into, but the loan one says "Our personal loan centre will send you a statement which will show you the payments that we have made to your loan account and will confirm the outstanding balance on your loan" and then says "we will now make arrangements for this payment to be made, which will either be in the for of a cheque or into your bank account".

The loan still has an outstanding balance on it. Does this mean that the money I have been awarded for the loan will go towards paying the loan? I really don't want this to happen as the money will pay off all my other debts just leaving the loan in place?

Any advice anyone can give will be appreciated, very much!

paid_too_much

:T:T:TI have no idea but congrats on your win:T:T:T

moosetastic

thank you very much paid_too_much hoping someone can answer my questions?

princesskez26

Im on the understanding that is is offset against what you owe them so it would be credited to card account and any surplus paid by cq or into bank account, and the loan they'd pay into loan account and sent you a revised 'balance outstanding' statement, perhaps someone with more knowledge could clarify this ? :-)

moosetastic

thank you princesskez

I rang them today to find out. A guy called Josh answered my questions.

1) - he said that the money awarded for my CC was the PPI that I would have paid throughout the years and now they are giving it me back??? Surely I knew that already?? :rotfl: he didn't say anything else about this, so I will just have to wait and see what happens when I get the money. The letter does say it will go directly into my bank account (it says my sort code and account number)

2) - he said that the money would be put straight into my bank account and would not be paid off the loan. He said that the statement from the loan people would just show the restructuring and the new payment minus the PPI.

Hopefully this is what will happen. I'm sure I'll find out!! :rotfl:

moosetastic

So, routinely checking my bank account this morning, and the £774.67 for the CC ppi has been paid into my account!! Ecstatic or what??!!! Cannot believe that this has happened so quickly, considering all the problems people are having. I sincerely hope that everyone gets their money soon. Just have to wait for the big one now!!

paid_too_much

moosetastic wrote: »

So, routinely checking my bank account this morning, and the £774.67 for the CC ppi has been paid into my account!! Ecstatic or what??!!! Cannot believe that this has happened so quickly, considering all the problems people are having. I sincerely hope that everyone gets their money soon. Just have to wait for the big one now!!

wow that is fast, congrats:beer:

I'm sure all the banks must hold our details on file, surely it would be faster and cheaper for them all to repay it directly into our accounts (after all that's where they stole it from originally!) Or maybe they don't want to pay faster and cheaper:rotfl:

congrats again, have a great weekend:beer::j

moosetastic

paid_too_much wrote: »

wow that is fast, congrats:beer:

I'm sure all the banks must hold our details on file, surely it would be faster and cheaper for them all to repay it directly into our accounts (after all that's where they stole it from originally!) Or maybe they don't want to pay faster and cheaper:rotfl:

congrats again, have a great weekend:beer::j

Thank you so much paid_too_much I'm still in shock!!

moosetastic

well, I can finally confirm that all of my money has now been paid directly into my bank account, all £3673.03!! I'm in the process of paying off practically all of my debts, I will be somewhere in the region of £150 a month better off because of this (which were all minimum payments!). Seriously cannot thank MSE and everyone for their help, you have made my life significantly easier

PH68

You said you had a letter with theloan interest calculated up to 6/12
Given the fact you were paid today (7/12) did they recalculate the interest like they are required to do?

moosetastic

hi PH68, thanks for the message. I actually got the money on Friday, but have been waiting a few days to make sure Lloyds didn't take it back out of my account (as I have read on here they have done before!)